Multiple Sclerosis Drugs - Estonia

The Multiple Sclerosis Drugs market in Estonia is expected to witness a substantial growth in revenue, with projections indicating that it will reach US$5.07m euros by 2024.
Furthermore, the market is anticipated to exhibit a steady annual growth rate of 1.30% from 2024 to 2029, leading to a market volume of US$5.41m euros by the end of the forecast period.
When compared to other countries worldwide, it is worth noting that United States is expected to generate the highest revenue in the Multiple Sclerosis Drugs market, with an estimated value of US$11.77bn in 2024.
Estonia's market for Multiple Sclerosis drugs is witnessing an increasing demand for innovative treatments and personalized therapies.

Definition:
This market covers drugs to treat the neurological autoimmune disease multiple sclerosis. As there is no cure for multiple sclerosis, the goal is to improve functions after an attack or to prevent attacks. Different types of medication include immunomodulators, immunosuppressants, and interferons. Monoclonal antibodies are now being increasingly used.

Additional information:
Market values represent the revenues generated by manufacture prices paid to primary vendors, either directly or through distribution channels (excluding VAT). Reported market revenues include spending by consumers (B2C), companies (B2B), and governments (B2G).

Company examples: Biogen, Roche, Novartis, Sanofi

Drugs to treat multiple sclerosis
Monoclonal antibodies
Immunosuppressants

Monoclonal antibodies and immunosuppressants for the treatment of other diseases
Treatment of other autoimmune diseases
Alternative medicine

The Multiple Sclerosis Drugs market in Estonia has shown significant growth in recent years.

Customer preferences: Patients in Estonia prefer disease-modifying therapies (DMTs) that are effective in reducing relapse rates and delaying disease progression. They also prefer oral medications over injectables, which has led to an increase in the demand for oral DMTs.

Trends in the market: The market is witnessing an increasing trend towards the use of biosimilars, which are cheaper alternatives to the original biologic drugs. This trend is driven by the government's efforts to reduce healthcare costs. Another trend is the shift towards personalized medicine, where treatments are tailored to individual patients based on their genetic makeup.

Local special circumstances: Estonia has a small population of around 1.3 million, which limits the size of the market. However, the country has a well-developed healthcare system and a high level of healthcare spending per capita. The government has implemented a centralized procurement system for drugs, which has helped to reduce costs and improve access to medicines.

Underlying macroeconomic factors: Estonia has a strong economy with a high level of economic freedom and a favorable business environment. The country has a well-educated workforce and a high level of digitalization, which has facilitated the adoption of new technologies in healthcare. The aging population and the increasing prevalence of multiple sclerosis are expected to continue driving demand for MS drugs in the country.

Data coverage:

Data encompasses B2B, B2G, and B2C spend. Figures are based on drug revenues allocated to the country where the money is spent. Monetary values are given at manufacturer price level excluding VAT.

Modeling approach / Market size:

Market sizes are determined by a top-down approach, based on a specific rationale for each market. As a basis for evaluating markets, we use financial information of the key players by market. Next, we use relevant key market indicators and data from country-specific associations, such as industry associations. This data helps us estimate the market size for each country individually.

Forecasts:

In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the particular market. For example, forecasts are based on historical developments, current trends, and key market indicators, using advanced statistical methods. The main driver is healthcare expenditure. Expiring patents and new drugs in the pipeline are also considered.

Additional notes:

Data is modeled in US$ using current exchange rates. The market is updated twice per year in case market dynamics change. The impact of the COVID-19 pandemic is considered at a country-specific level. This market comprises prescription drugs and all OTC drugs covered in the Statista OTC Pharmaceuticals market. However, in the OTC Pharmaceuticals market, revenues are based on end-consumer prices.

This report presents a comprehensive analysis and additional information on the Health market, in a PDF format.

The global pharmaceutical industry has experienced significant growth during the past two decades, with revenues totaling around 1.6 trillion U.S. dollars in 2023. With growth like that, the industry's size is now comparable to the gross domestic products (GDPs) of countries like Spain, Mexico, or Australia.